For the old and young, it's a tough time to be in the job market

In this Wednesday, Jan. 22, 2014, photo, job seekers line up to meet a prospective employer at a career fair at a hotel in Dallas. Two straight weak job reports have raised doubts about economists' predictions of breakout growth in 2014. Over the last decade, the youngest workers find they can't get work, while older workers are stuck in the labor force. Workers on both ends are finding creative solutions to a lackluster job market.

LM Otero, Associated Press

Summary

Over the last decade, the youngest workers find they can't get work, while older workers are stuck in the labor force. Workers on both ends are finding creative solutions to a lackluster job market.

He doubled up on courses his junior year in high school and took summer classes, graduated early and started college at San Diego State University when he was only 16. Four years later he graduated with a degree in English and started looking for work in marketing and communications. It was spring of 2008.

A few months later, the country had spiralled into economic meltdown and Patterson couldn't find work for more than $9 an hour. He moved in with his mom in Texas and found a job managing an American Apparel retail store. At the age of 20, he couldn't help but feel like he wasn't much further ahead than when he had started college four years earlier.

Over the course of the last decade, the employment rate for young adults, especially those in their teens and early 20s, has fallen from 44 percent to 24 percent, according to a new Brookings study. That's the lowest it's been since 1948.

The study also found that for the first time employment rates actually went up for workers over 55 as retirement-age workers who lost money in the recession are forced to stay in the workforce longer than planned.

Researchers call this the "Age Twist" — the twin misfortunes of the old and young in the post-recession economy, where 20-somethings are stuck in mom and dad's basement and aging workers are bagging groceries. America's oldest and youngest workers are having to find ways to re-imagine their career paths.

Young and jobless

Patterson looked for work for 2 1/2 years from graduation before he was able to find work that paid more than $12 an hour. He was relieved to land a job as a college recruiter for an online university, but a couple years later it downsized and he was laid off. He found himself in the job search again. During this time he took unpaid internships, contract work and tutoring work — anything to pay bills and build his resume: "I have had more four-month jobs than I can remember," says Patterson.

This kind of scattered work history can have long-term effects. Young adults who are unemployed don't just suffer while they're surfing Monster.com and filling out applications at Starbucks. Being young and jobless means that you are also likely to face recurring unemployment, and earn less later. Early unemployment equates to a loss of about $22,000 over the life of a career, according to the Center for American Progress.

"It’s not written in stone, and it’s not your destiny," Martha Ross, a Brookings fellow who co-authored the paper told the The Washington Post. "But this is a really formative period in someone’s life."

The Age Twist

While younger workers are scrambling for work those at or close to retirement are clinging to it. Lots of retirement-age workers are staying on the job due to loss of funds in the recession or the collapse of the housing market when many of them counted on the worth of their homes in order to retire, the report says.

It used to be that the employment rate for teens was double that of retirement-age workers, but no more. By 2012, the unemployment rate for teens and workers 65 and over was the same. Aging workers often find themselves in jobs they are overqualified for or stuck in jobs that they can't leave.

Lea Cullen Boyer optimistically bought a new home in the Woodstock, N.Y., area around the beginning of the crash with the idea that she could eventually retire there. She thought that she would be able to find work locally, but a shrinking economy meant that she commuted four hours a day for four years to her job in Westchester, N.Y., where she worked as a sustainability consultant.

"What was once a nice stable job became dead end and lackluster," says Boyer. "But lack of opportunities kept me there."

Popular Comments

My 77-year old mother (who chooses to work to keep herself busy) and my 24-year
old daughter both have more job offers than they can handle. I've had
conversations with both of them about stories like this, and why they think
their experience
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8:23 p.m. March 31, 2014

Top comment

drh3010

Draper, UT

Get an IT degree (e.g. Computer Science) and take general ed. electives in
English, History, Latin, or whatever your interested in or just study it on your
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Lane Anderson writes about causes for the national editionincluding issues such as poverty, hunger, and social inequality. She lives in New York City, where she has taught at Columbia University and Yeshiva University. more ..